Item No.             8f_supp
Date of Meeting          March 8, 2022
Maritime Innovation Center
EDA Match Funds Authorization



December 8, 2020

Leveraging Funding for the Maritime Innovation Center
Request Commission authorization for the Executive Director to invest at
least $5,718,840 into the Maritime Innovation Center (MInC) to provide
required  matching funds for  a United States Economic Development
Administration grant in the amount of $5,000,000.
This  authorization  commits  Port  funding  to  the  MInC  project  if  EDA
approves the Port of Seattle's grant request and executes a contract with
the Port for the grant funding.
Part of 2019-2023 Capital Improvement Plan


2

Maritime Innovation Center
"The center will be used to
support technology
acceleration and incubation,
and act as a focal point for
maritime sustainability,
including, but not limited to,
supporting technology
development for maritime
decarbonization and
electrification."
Excerpt from interagency agreement

3

Innovation Center Strategic Objectives
Be a focal point for maritime
innovation
Offer incubator and accelerator
environment
Support investment in BlueTech
start-ups and new technologies
Drive equitable economic
development
Support workforce development
and maritime career exploration
First Maritime Blue Innovation Accelerator Cohort

4

IV
Ce

i
.





5

Ship Supply Building: Assets for Innovation
Accessibility
Access to water
Access to laydown area
Proximity to Maritime Suppliers
and Manufacturers
Visibility
Historic Preservation, Aesthetics
& Ability to Leverage Capital
Equity & Diversity

6

Proposed Building Improvements
Abatement of regulated materials in existing structure
Partial existing building demolition (timber structural framework to be preserved)
Enhancement of structural piles and framework
Construction of new MInC building core and shell
Utility services removal and replacement
New building perimeter and parking lot paving

7

Living Building Challenge Sustainability Commitment






8

Maritime Innovation Center
Project Cost Summary (updated 60% Design Estimate)
Description                                 Estimated      % of Total
Costs      Project Cost
Engineer's Estimate of Direct Constr. Costs        $12 M            60%
Other Construction Costs                         $3.0 M           15%
Soft Costs                                       $4.6 M            24%
Art Program                                   $200 K           1%
TOTAL ESTIMATED PROJECT COSTS       $19.8 M        100%

The project is included in the Port of Seattle's approved 2022-2026 CIP with a total project cost of $19,869,000.


9

Maritime Innovation Center
Development Schedule
Construction Auth.            NTP                  Substantial Completion
2020                   2021                                 2022                                 2023                                 2024                                 2025
Q4       Q1       Q2       Q3       Q4       Q1       Q2       Q3       Q4       Q1       Q2       Q3       Q4       Q1       Q2       Q3       Q4       Q1       Q2       Q3       Q4
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Authorizations
Bid &         Extended
DESIGN                                                              CONSTRUCTION
Award       Submittals
Permits                 SSDP                                                Constr. Permit
Design Milestones         60%                                            90%               Final Bid Set




* Community engagement tasks will vary by project needs                                                                                                               10

Next Steps
Complete design work
Finalize cost estimates
Secure construction permits
Secure construction funding
Partner with Maritime Blue to
evaluate tenant options as facility
starts construction
Achieve Living Building Challenge

11

APPENDIX

12

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